086: The Juice is Worth the Squeeze Part I

Aug 14, 2019

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Ready to be served the “meat and potatoes” of multifamily investing? I’m going to teach you everything—from finding qualified deals to getting them under contract.

What happens, what goes wrong, and what process should you follow? Lots of little things that you need to know. Real estate is a financially rewarding journey to living your best life and creating legacy wealth.

Topics on Today’s Episode:

Analyze hundreds of deals, not just one, with the following:
- Kahuna Cashflow Calculator
- Pre-trained virtual assistants (VAs)
- Final look

Does this pencil?

No: Dead deal
Maybe: Dead deal may be resurrected for right price and reasons
Yes: Visit site for information and interrogation to kill deal

Does it still pencil?

No: Dead deal
Maybe: 50/50 chance, after site visit and more information
Yes: Create and submit Letter of Intent (LOI) to buy property

Does it still pencil?

No: Dead deal
Maybe: Negotiate, if necessary
Yes: If accepted, receive signed LOI to create and submit Purchase and Sales Agreement (PSA) with contract extension

Does it still pencil?

No: Dead deal
Maybe: Not a done deal, until PSA is signed and due diligence items are delivered
Yes: If accepted, receive signed PSA to start due diligence period

Every time there’s a change or more accurate data, inform your Kahuna Cashflow Calculator.

Part 2 will focus on the closing process, which is when your asset begins to work, run, and make money.

Links and Resources Mentioned:

Quotes:

“This is where most people fail. ‘I’m going to go find deals.’ But the reality is, they’re not willing to do the work.” Corey Peterson

“You have to visit the dirt to make an impact in the broker’s eyes. You want to come in as a bonafide buyer.” Corey Peterson

“You’ve got to come into these things with your eyes wide open. If there’s a mistake to be made, or a way to lose money, I’ve probably done it.” Corey Peterson

“You have a freaking pipe dream, until someone signs that dotted line on that Purchase and Sales (PSA) Contract.” Corey Peterson

Don’t forget to download my Free Workshop Quickstart Video Series, and if you like what you have heard please leave a review on iTunes.

Text the word MONEY to 408-500-1127 to get my free private money program and credibility kit for single family.